Manhattan Associates (NASDAQ:MANH - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.600-4.620 for the period, compared to the consensus earnings per share estimate of 4.290. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Manhattan Associates also updated its FY24 guidance to $4.60-4.62 EPS.
Manhattan Associates Stock Down 1.1 %
Manhattan Associates stock traded down $3.22 during trading hours on Tuesday, hitting $292.32. The stock had a trading volume of 745,926 shares, compared to its average volume of 411,432. The business's 50 day simple moving average is $272.92 and its 200-day simple moving average is $246.07. Manhattan Associates has a one year low of $182.97 and a one year high of $307.50. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 95.53 and a beta of 1.50.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. During the same quarter last year, the business earned $0.63 EPS. The firm's quarterly revenue was up 14.8% on a year-over-year basis. Research analysts anticipate that Manhattan Associates will post 3.01 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts recently weighed in on MANH shares. Truist Financial boosted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, October 11th. DA Davidson upped their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $275.75.
Check Out Our Latest Stock Report on Manhattan Associates
Insider Buying and Selling at Manhattan Associates
In other news, EVP James Stewart Gantt sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares of the company's stock, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.72% of the company's stock.
Manhattan Associates Company Profile
(
Get Free Report)
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.
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